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Copper market midday commentary: monetary policy may turn to the dollar rebound, overnight London copper closed down nearly 3.
3%, China will curb the unreasonable rise in commodity prices, Glencore plans to restart a copper mine, copper fell sharply today
.
The executive meeting of the State Council made arrangements for ensuring the supply and price of bulk commodities
.
Fed Minutes: Some members suggested considering discussing tapering QE
.
Yesterday, the State Council focused on the deployment of commodity price stabilization, and in the evening, the Federal Reserve officially expressed its concern about inflation for the first time, the market was worried about the Fed's interest rate hike, the dollar rose sharply overnight, and the commodity and virtual asset markets fell
sharply across the board.
Chile's Escondida copper mine hopes for a deal but is ready
for strike.
Overnight, London copper fell more than 3% to close the long black line, falling back to near $10,000 and the 20-day moving average, and opened slightly lower at $
10,064 today.
Shanghai copper fell sharply on the day, opened sharply lower in the night, and closed in the shade, closing below the 20-day moving average at 72930
.
Shanghai copper trading rose and positions fell, and market sentiment was biased towards
neutrality.
The Fed news hit market confidence hard, short-term copper prices may continue to fluctuate and adjust, volatility is large, pay attention to positions
.
Shanghai copper upper pressure 75000, lower support 70000
.
Today's international copper premium fell slightly to 532, and confidence in both internal and external markets was insufficient
.
